Apple to introduce monthly payments for iMac,iPad with Apple Credit Card

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Apple Inc is preparing to allow customers to buy many of its products, including iPads, Macs and AirPods, over monthly installments via its Apple Card credit card.

The Cupertino, California-based technology giant is planning to roll out the service in the coming weeks, according to people familiar with the plan. The offering will let customers buy products through Apple and split up the cost over several months with interest-free payments.

The company will offer a 12-month interest-free payment plan for iPads, Macs, the Apple Pencil, and iPad keyboards, as well as the Mac XDR Display monitor, and six months with no interest in the AirPods, Apple TV, and HomePod, the people said.

The payments will be managed through the Apple Card section in the Wallet app on iPhone and charges will be added to the customer’s monthly Apple Card bill. Apple started a similar program for the iPhone last year, offering 24 months no interest.

The program is similar to those by carriers selling phones and other products, offering consumers another avenue to purchase these items with monthly payments.

The service is also designed to spur enrollment for the Apple Card, a joint effort with Goldman Sachs Group Inc., and boost sales of Apple products by letting users split up the cost over time. It will be compatible with Apple’s education discounts, the people said.

Also See: https://www.apple.com/in/iphone-se/

Apple Chief Executive Officer Tim Cook said on the company’s second-quarter earnings call in April that the company would launch an installment payment service for products beyond the iPhone, but he didn’t specify timing or features.

Jishnu Vardhan
Jishnu Vardhan is a part of the BotGadgets news team and based out of Hyderabad. Jishnu is responsible for making sure the BotGadgets news section is updated with the latest happenings from the world of science and technology. When he is not editing or assigning stories, Jishnu writes about new gadgets, social media and the Internet at large. However, Jishnu is a Mechanical Engineer(pursuing) who has reported on everything from the first post "Jio to offer free Disney + Hotstar Plus to its customers for 1 year". He is always looking for a great story to tell, so feel free to reach him on his Instagram handle "jishnu.245" and for Tips.

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